After a long delay

December wages: KTM moves payday forward

Production in Mattighofen has been at a standstill since the evening of December 13.

(Bild: Wenzel Markus)

Time was too short for a transfer before Christmas and KTM also lacked the liquidity: But on Friday, December 27, there was finally a first sigh of relief! The motorcycle manufacturer, which had slipped into insolvency, transferred the December salaries to its employees. The workers still have to wait until mid-January.

KTM owed the November salaries and wages and the majority of the Christmas bonus before opening insolvency proceedings. In return, the motorcycle manufacturer had promised its employees: There would be a 90 percent advance on the December salaries right at the beginning of December.

Then, on December 12, came the sobering news for the more than 3,600 employees affected by the insolvency of the lead company in Mattighofen (Upper Austria): Due to a lack of liquidity, the transfer could not be made.

However, 15 days later, on Friday, December 27, the salaries could be transferred after all - this was confirmed by KTM AG restructuring administrator Peter Vogl in response to an inquiry from "Krone". Although it had been said in the morning that the wages for the workers had also been transferred - and thus almost three weeks earlier than usual - it turned out in the late afternoon that they will have to continue to be patient. As usual, the December wages will not be transferred until mid-January, i.e. in just under three weeks' time.

KTM AG restructuring administrator Peter Vogl (right) with Gottfried Neumeister, Co-CEO of Pierer Mobility AG and KTM AG.

(Bild: Scharinger Daniel)

In addition to the uncertainty as to how things will continue, many employees have been massively affected by the financial situation in recent weeks - with the knowledge that there is now apparently money for salaries and wages again, they can at least breathe a sigh of relief.

November salaries and wages and Christmas bonus paid by the fund
When will the November salaries and wages and most of the Christmas bonus be paid? These are expected to be transferred by the Insolvency Compensation Fund in the course of January.

Fixed: On December 19, the Upper Austrian Chamber of Labor submitted almost 3,500 applications to the Ried Regional Court. These have now been forwarded to the restructuring administrators Peter Vogl (KTM AG), Robert Tremel (KTM Components GmbH) and Franz Mitterbauer (KTM Forschungs & Entwicklungs GmbH). The applications are now being examined in their offices.